Wedding Planners Final Draft
Wedding Planners Final Draft
Wedding Planners Final Draft
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1. SITUATION ANALYSIS .......................................................................................... 4
1.1 MARKET CHARACTERISTSICS & TRENDS .......................................................... 4
Market size ..................................................................................................... 4
History ............................................................................................................ 4
Market Stage .................................................................................................. 4
Market Needs ................................................................................................. 4
Market potential ............................................................................................ 5
Demand Cycle................................................................................................. 5
1.3 COMPETITIVE ANALYSIS ................................................................................. 5
1.3.1 COMPETITIVE LANDSCAPE ......................................................................... 5
Key Players ..................................................................................................... 5
Key Players Vs The Company .......................................................................... 6
1.4 INDUSTRY ANALYSIS....................................................................................... 7
1.4.1 INDUSTRY SIZE ........................................................................................... 7
1.4.2 WEDDING PLANNERS AND INDUSTRY COMPETITORS................................ 8
Hotels and Other Banquet Halls ................................................................. 8
Competitors: The Other Wedding Planners ................................................ 9
Employees or Persons Wishing To Do It Themselves .................................. 9
1.5 SWOT ANALYSIS ............................................................................................. 10
2. MARKETING OBJECTIVES ...................................................................................... 11
Short Term Objectives .......................................................................................... 11
Long Term Objectives (3 To 5 Years) .................................................................... 11
3. MARKET SEGMENTATION .................................................................................... 12
Market size
Indian weddings are getting bigger and better. The expanding wedding market in
India is pegged at Rs. 50,000 crore by industry sources and is growing annually by 25
– 30 %.
History
The grandeur and charisma of Indian weddings has enticed and enraptured many.
The portrayal of the warmth, fun and frolic of the Indian wedding owes a lot to
Bollywood.
Market Stage
It’s is a new market. It is a latest trend to hire wedding party coordinators to take
care of the entire wedding event.
Market Needs
The market needs for wedding planning services are strongly shaped by the
customers' desire to have a perfectly planned and executed wedding ceremony.
Although major customer segments, brides and grooms and family members, plan
and budget for the wedding ceremony as far as a year or more in advance, they
often realize that they cannot make all the necessary preparations by themselves in
a cost effective manner. Strongly affected by the established social values, such
customers seek professional advice to ensure that all the important aspects of the
wedding ceremony meet or exceed perceived expectations.
India’s burgeoning middle class - now 300 million strong - are turning weddings into
showcases of their growing disposable incomes and newfound appetites for the
goodies of the global marketplace. The change is visible in the middle class who
want the flavor and ambience of elite weddings. Seeing the world around they too
are spending and want the best available. It sort of coincided with the rise in
disposable incomes of the rich and upper middle Indian class and over the years
weddings have become aspirational. “Your wedding should be better than your
neighbor’s”.
Demand Cycle
February to May are the most popular months for weddings. February 15 is
considered to be the most auspicious day for weddings and is a jam packed day for
weddings.
Key Players
The wedding planning business, though not a fully established business is catching
up pace fast. The very mention of wedding planners in the popular search engine,
results in lists of online Wedding Planner services, and numerous other wedding
related services. Some of the key players with the Indian
One-stop wedding
shop
Matrimony services.
High High
Weakness: Consumes time that could be spent on other things; may not
have access to the best prices, services, and other needed resources
available.
STRENGTH WEAKNESS
Strong potential of Seasonal demand
customer base Less Experience in the
Strong Funding business
Less Investments Largely unorganized market
Huge Profit Margin
Excellent
communication system
Proper and systematic
advertisement
Good social contacts
OPPORTUNITIES THREATS
Change in social Increasing competition
environment o Moving from blue ocean
Improving business strategy to a red ocean
one
Increasing influence of
regional and small local
players in the industry
Ours will be a FLEXIBLE MARKET OFFERING. There will be some basic services like
provision of venue, arrangement of caterers, invitation cards, etc. this will be NAKED
SOLUTION that will be containing the service elements that will be common to all
the segments identified. But then there will be DISCRETIONARY OPTIONS available
for some customers (segments) as per their choice. For e.g. arrangement of
bachelor’s party, honeymoon planning, arrangement of cars for traveling, grooming
not only the bride and groom but also the close family members, dance troops for
lady sangeet, etc. These are such services that may or may not be demanded by our
customers as they might like to arrange them on their own. Of course these options
will have additional charges.
(We will be offering different packages for different groups recognized on the basis
of religion. Like packages for Muslim weddings will be quite different from the
package provided for Christian or Bengali wedding. Here by if we carve up the
market in terms of preference, our segment will be clustered segment, where
market reveals distinct preference clusters.)
4. TARGET MARKET
Being the first year of our business, our head offices will be in two main cities, DELHI
and MUMBAI. We have chosen these two cities keeping in mind our TARGET
SEGMENT. Well for the time being we have classified our segment according to
income. The four segment indentified are
Upper class
The reason that being, because these people will be ready to shell out more money
for grandeur and for a magnificent wedding. This explains our choice of city for our
head offices. Delhi and Mumbai, both are metro cities and rich people. Because of
the lifestyle they have, customers there are more open to new ideas. Also these two
cities have lot of professionals who are so busy in life that they would need wedding
planners for the arrangements. As we are catering to all religions, Delhi and Mumbai
are cities which have the best mixture of all the cultures living together.
Also there is easy availability of business partners like designers, caterers, grand
hotels, best beauticians etc ads to the reason for selecting these cities.
Now if we analyze our cities where our target segment is according to BBDO Guide
to Urban Market, then we have:
Demographics
AGE- Targeting consumers of the age group 21 and above. Apart from the marketing
campaign which will be approaching to all, we will be also having special campaigns
for young people (looking for different wedding) and old people. ( see product
development and differentiation).
Pyshographics
LIFESTYLE: lifestyle of our target segment will be quite lavish. They would believe in
maintaining status and would want class-apart services.
Achievers: These are the people who are successful and career and family oriented.
They favor premium products that demonstrate their success to their peers.
Experiencers: These are young , enthusiastic people who seek variety and
excitement. They can spend high proportion of their income on fashion,
entertainment and socializing.
Strivers: These are trendy and fun-loving people who are resource constrained but
favor stylish products that emulate the purchases of those with greater material
wealth. These kind of customers will be found in upper middle class and middle
class. We are offering different customized products that will help them to be in
their decided budget but sidewise they can avail our services.
Wedding Venues: the selection of a perfect venue for dream wedding ranks
foremost in the scheme of things while planning a wedding. The wedding venue is
one of the most significant factors of a wedding as it provides the base for an
authentic theme wedding. The few important points to be kept in mind during
selection of venue are: budget of the client, feasibility of guests to reach venue,
security availability, parking spaces and theme of the wedding. The various choices
that we provide for selection of venue is scenic environs of Kerala, royal settings of
Rajasthan or picturesque beaches of Goa, marriage halls , farm houses etc.
Wedding Calendar: our wedding calendar shall provide all the important
information for our clients wedding in advance. The wedding calendar will provide
the aspiring couple all the necessary information for planning their wedding just the
way they desire.
Wedding Priest: Priest or Pastor is an integral part of every wedding. For Hindu
wedding, the wedding priest has to be a Brahmin, for Christian it has to be a Catholic
hence, we at SutraDhar arrange priest for those looking forward to a traditional
Indian wedding.
Catering: we will arrange a variety of sumptuous delicacies as exotic menus for the
guests with a blend of Indian and foreign cuisines. To have a slap-up meal one needs
a wonderful menu. And soon the client decides the menu the job surpasses to the
caterers. The menu shall be decided according to your preference and budget. As
per clients selection a menu shall be placed for the guests. The caterers shall
provide vegetarian and non- vegetarian cuisines.
Floral and Light Décor : Fresh flowers like roses, orchid, marigold, gerberas, etc. can
augment the overall appearance of the traditional and ethnic look and we will do all
these with client’s consent.
We believe that lighting if used artistically can amplify and emphasize each and
every element of décor and take it to a completely different level. So we will always
try to arrange it differently.
Video and Still Photography: We will appoint a photographer and professionals for
video coverage for capturing the propitious moments of our clients life on tape.
Since we are the service providers providing intangible products, we will have to
take care of customer expectation and see that our delivery exceeds their
expectations.
There will be some seasons during a year which will be peak time for us. The
clientele will definitely increase during those seasons. So in order to offload during
the peak season, some schemes will be introduced to incite our clients to book our
services beforehand (say during off season). Some of the basic schemes would be
like:
Clients, who book our services 5 months before their wedding, would be given some
extra discount (depending on their budget). Also clients will be motivated to book
before hand by advertising. They will be informed that if they do so, they would be
able to save a lot on venue and caterer charges.
Clients who book our services 4 month before their wedding would not be charged
various consultancy and booking fees like booking of venue, booking of tickets,
rental cars, beauty consultation etc.
Clients who would approach us just before a month of their wedding would be dealt
in a special way. In the sense that, it would depend on the demand of our services,
that if we would not be able to provide them with full services, we would try to
provide them just with consultancy. Likewise we can take care that none of our
client doesn’t get disappointed.
Special measures will be taken during the peak season. Like hiring part time
employees just to meet the demand. Although special care will be taken to train
these employees also, but hiring them just during the peak season would reduce our
cost and increase profitability.
Our offerings will be very flexible and customer will be very free to customize their
wedding as much as they want to.
6. POSITIONING
Positioning is the act of designing the company’s offerings and image to occupy a
distinctive place in the mind of the target market. The goal is to locate the brand in
the minds of the consumers to maximize the potential benefits to the firm. The
result of positioning is the successful creation of a customer-focused value
proposition, a cogent reason why the target market should buy the product.
VALUE PROPOSITION:-
6.1. POINT-OF-DIFFERENCE
However
Our main point of difference is that our BACK END SYSTEM which is far
more superior.
Jobs that usually take weeks, we make sure they are completed in half
the time and efficiently, hence an edge above the rest.
6.2. E-ADVERTISING
“If you have to master the future, you have to invent it”
Peter Drucker
Amid various media of advertising, the Internet is growing magnitude day by day.
Internet advertising encompasses the advantage of both the print and the visual
media. The internet definitely has an edge above the other marketing strategies.
Globalization and liberalization can be even more consequential with the help of the
internet. It is the first really democratic medium of two-way communication
between the advertiser and the consumer. The internet is the medium of the future
and will leave all other media behind.
Corporate 50%
Through Cyber Cafes 30%
Home Users 20%
92%
In India, the online spends is currently less than 2% of the total ad spend but the
expectation is that it will be 8-10 % by 2010. The number of net users in India will
exceed most Asian countries (except China) in the near future.
Content Advertising
The information about our services are placed at the possible spaces available on
the net. Some of the strategies to be adopted are mentioned as follows. Content
advertising is basically to draw maximum traffic. This traffic is either from the
websites where the content is posted or through the search engine. The final
objective is to get a high hit rate and a high ranking in the search engines. A careful
keyword research and search engine optimization techniques are to be looked after.
Link Advertising
A short link with descriptions is used to lure visitors directly to the website.
- PPC advertising
- LeadsLeap advertising
- Classified advertising
- Submission to directories
- Link exchange partnership
- Banner advertising (image version of link advertising)
- Craigslist advertising
- Email signature
Viral Advertising
Parallel to the word of mouth advertising in the offline world, is the viral
advertising in the online world. The idea is to encourage created traffic to
bring more traffic to the website.
INTERNET ADVERTISING
Positioning by Use Internet advertising can logically justify the occasion or
time of use of our service. The personalized website
being provided, gives the ease of being accessed 24*7
Positioning by Price Internet advertising helps in cutting down the costs and
and Quality ensures Price and Quality positioning, which is the need
of the hour in a developing economy like India.
Positioning By Receive Internet advertising, in this method of positioning allows
& Alter information the users to receive and alter information, and even
and images gather information in a price effective manner. The
website being offered by our company is one of the best
examples to exemplify this point.
Guerrilla marketing is the marketing of a product in the most unlikely of places, and
the main advantage of guerrilla marketing is that it is unexpected. It catches the
prospects and suspects off-guard and causes emotional response - laughter, shock
or sadness are great sellers.
The e-Advertising discussed earlier, explains the tactics for positioning to be applied
for presence marketing of the internet.
Grassroots Marketing
Is gaining popularity like - well, like a grass fire. A grassroots campaign can take on
many forms, but for the most part it is about winning customers one-by-one rather
than on a very large scale. In simple words adopting a customer oriented approach,
and keeping the customer demand as the top most preference. By doing so, one
thing is for sure, A SATISFIED CUSTOMER, who can be a second time buyer and can
attract many more customers.
Undercover Marketing
Also known as buzz marketing, is said to be one of the more devious ways of
marketing to the masses. Undercover marketing/buzz marketing is all about selling
something to someone who has no idea they’ve just witnessed a sales pitch. For
example the, paid up online surveys, whereby a person is paid to give reviews. The
person does the job for money, but the service or product for which he/she has
taken the survey, unknowingly gets registered in his mind. We intend to put into
practice this sort of positioning strategy, once our services are in the market. Such
surveys can be conducted in crowded places. Our first choice to start with this sort
of positioning strategy is Shopping Malls.
Experiential Marketing
This is increasingly being embraced by all types of companies and brands today. By
Experiential Marketing the suspects and the prospects interact with the product and
associate their immediate emotional responses with that brand.
This is one of the marketing strategies, to tap the emotions of the suspects and the
prospects. Our strategies to implement this sort of marketing are by giving the
prospects and suspects, a free trial of our services. For example, a free trial of the
unique saree draping service can be provided.
7. DIFFERENTIATION STRATEGIES
7.1. PRODUCT DIFFERENTIATION
It is very important for any new entrant or even for an existing product to cater such
services to the customers that are not catered by its competitors. Our creative
teams at SUTRADHAR will continuously work to evolve our services in a such a way
that we always stay number one in the market and be in the best in customer
satisfaction. Some of the different product services that we will be providing to our
customers will be :
Saree Draping
The Indian wedding is a fashionable affair, with three days of catwalk. And the saree
symbolizes the Indian attire. The beauty of the saree is enhanced by the way it is
draped. We plan to give our customers a unique experience to experience the saree
in an all together different way, and be trendy yet ethnic. To provide this creative
quotient we have professionals rolling on from the country. But we have special tie-
up with famous designers and specialists to offer this service. Our team can drape
saaree in more than 125 ways. They have the art to drape three sarees together and
sill make bride look slim and beautiful. An example of our team’s work is shown
below.
Memory on net
we will be providing our clients with a special service that they can have there own
URL on our website-www.sutradhar.com. our technical team will help our clients to
design the webpage for them. Some of the special features of the website will be :
Guest book - Allows guest / family / friends to sign in and leave a message for bride
and groom.
The designer’s team will be have many members, so that they can cover whole
family members. Some of example of designer Mehandi are :
Gift Wrapping
Giving gifts to the bride and also to guests is a ritual in india. The gifts that the bride
gets is often displayed during the small wedding functions. Gift wrapping is a style
and a beautifully wrapped gift can make a difference. Again this will be one of our
special service for our clients. Some of the few examples of wrapping are
Theme weddings
We have also identified customers who want their wedding according to some
themes. Theme weddings are becoming popular these days. We will have special
teams to help our clients to decide on various theme weddings like village theme or
theme functions where each function would have a certain theme. There are few
players in the market that provides basic services to consumers but this demand still
remains unanswered.
Also, India is a country of young people. Their Moto of life is “WORK HARD AND
PARTY HARDER” or rather “WORK HARD AND PARTY CRAZILY HARDER”. We will be
catering to the needs of our own YOUNGISTAN. People today want to make their
wedding very special and they want it in a way that no one has done. Yes, we will
be helping them to arrange “CRAZY WEDDING”. By crazy wedding we mean, crazy
venues, crazy themes, crazy music, crazy entertainers etc. Just to give an example,
crazy themes can be wedding based on pirate theme or beach theme with
mermaids, or rock concert theme. Also some would want to marry in sky or on an
island or underwater.
We will be having a special team that will plan weddings for this special segment.
This team will of course be full of crazy ideas and would not have “impossible” word
in their dictionary. Our fun loving and crazy team would help them to build more
upon the ideas the clients would have.